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Football: CU athletic department will get loan to cover firing costs

By Kyle Ringo Buffzone.com

Posted:
11/27/2012 09:03:10 PM MST

Updated:
11/27/2012 09:03:24 PM MST

University of Colorado officials confirmed Tuesday the athletic department will receive its third loan from the school in the past seven years to cover the costs of firing coach Jon Embree and possibly parting ways with offensive coordinator Eric Bieniemy.

The loan of $2.4 million is roughly the total cost of the buyouts for the three years remaining on Embree's contract and the three years remaining on Bieniemy's deal.

Athletic director Mike Bohn met with Embree's assistants on Tuesday and told them they will all remain employed until the next head coach has a chance to evaluate them and decide whether he wants to retain them. If they are let go, they will be offered severance packages.

"Our coaches are working hard to continue the recruiting process with the upcoming class and helping out existing student athletes process the coaching transition," Bohn said. "All new assistant coaching positions will be determined by the new head coach."

Embree is owed $1.625 million and Bieniemy would be owed $812,500 if he is not retained for a total of $2.437,500.

CU fired Embree on Sunday after the Buffs went 1-11 this season and lost most of their games in blowout fashion. Embree was 4-21 in his two seasons at the helm and lost 15 games by 20 or more points.

The athletic department previously received an $8 million loan in 2006 to help with the costs of paying off former coach Gary Barnett who was fired at the end of the 2005 season and paying other debts the department owed.

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When the school moved from the Big 12 Conference to the Pac-12 in 2010, the campus and the CU System loaned the department $10 million to help defray the costs of the conference change and paying $2 million buyout for former coach Dan Hawkins

The athletic department has received money every year from its conference's television revenue and money generated from bowl games in football and the NCAA tournament in men's basketball.

When the school left the Big 12, it forfeited approximately $7 million and the following year it did not receive any distribution from the Pac-12 for its first year in the league, which meant it was short the $9.5 million it had been averaging in conference distributions previously.

Bohn said the department is about halfway through the process of paying off Barnett and Hawkins and will now add Embree to the tab.

CU spokesman Bronson Hilliard said the cost of switching conferences and coaching changes are not the only reasons for the loan. He said the athletic department has increased expenses by adding a women's lacrosse program, a new marketing position and several new positions for academic advising. The cost of scholarships also rose this year because of tuition increases.

The department also saw football revenue decrease by more than $2 million because of decreased ticket sales.

CU is slated to begin receiving approximately $21 million a year in Pac-12 television money this school year. That money in future years will help get the department back on track and athletics shouldn't need similar loans in the future.

"Even with the Pac-12 money there is not quite enough there in the short term to get us through the fiscal year without floating a loan from the campus," Hilliard said. "...The long term financial prospects are quite positive with realized new revenues from the Pac-12 membership. It's just that this year we had a lot of expenses."

New coach will choose staff

Bohn said there won't be any stipulations made to the next coach about retaining any current assistants. He said the next coach will be free to assemble a staff he chooses.

The current staff includes Boulder native Bobby Kennedy, who has coached wide receivers at CU the past two seasons and has a strong resume. Kennedy came back to Boulder, in part, to coach along side Embree whom he has known for decades and considers a good friend, but coaching in his home town still might be appealing to Kennedy.

Some members of the staff were seen already packing their belongings in the coaches' offices on Monday when a press conference was held down the hall on the second floor of the Dal Ward Center.

A source close to the staff said he doubted any of Embree's assistants would want to stay because of the way Embree was treated in being given only two years. The source said that includes longtime linebackers coach Brian Cabral, who is apparently planning to retire.

During a post practice interview with the Camera last week leading up to the season finale against Utah, Cabral said he still enjoys coaching and was hoping to return next season. Cabral even talked about looking forward to coaching the returning linebackers he has in the program and recruits slated to join the Buffs.

Cabral has coached linebackers at CU for 24 seasons, including one as a graduate assistant. He also played linebacker at the school in the 1970s.

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Sources said Colorado School of Mines coach Bob Stitt is not likely to be a candidate to replace Embree and former Kansas coach Mark Mangino also is not a candidate for a job a CU.

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